Gourmet Burger Kitchen Bought In £120m Deal
Gourmet Burger Kitchen (GBK) has been bought by South African company Famous Brands in a £120 million deal.
The group, whose portfolio of brands include the UK 'Wimpy' fast-food burger chain, described its latest acquisition as the "biggest deal the group has ever concluded" with the purchase giving it the opportunity to move into a "substantially higher league".
GBK, which has 75 restaurants across the United Kingdom and Ireland, had recently invested €3.5 million in refurbishing its Dublin locations.
Famous Brands have confirmed that the chain's current management team and staff would remain in place and that it has plans to open 10 to 15 new restaurants in the UK annually, reports Sky News.
Speaking about the acquisition, Famous Brands strategic adviser Kevin Hedderwick said: "We've been looking to expand our presence in the UK market for some time, and the acquisition of GBK was the perfect opportunity for us to do this."